Madison Square Garden Entertainment Corp. (NYSE:MSGE) Given Average Recommendation of “Moderate Buy” by Analysts

Madison Square Garden Entertainment Corp. (NYSE:MSGE) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.20.

A number of brokerages have commented on MSGE. The Goldman Sachs Group boosted their target price on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Madison Square Garden Entertainment from $41.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a report on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 16th.

Hedge Funds Weigh In On Madison Square Garden Entertainment

Hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new position in shares of Madison Square Garden Entertainment during the first quarter valued at about $31,000. CWM LLC increased its holdings in shares of Madison Square Garden Entertainment by 623.8% during the second quarter. CWM LLC now owns 1,035 shares of the company’s stock valued at $41,000 after acquiring an additional 892 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Madison Square Garden Entertainment by 163.0% during the second quarter. Cullen Frost Bankers Inc. now owns 1,086 shares of the company’s stock valued at $43,000 after acquiring an additional 673 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Madison Square Garden Entertainment during the first quarter valued at about $40,000. Finally, NBC Securities Inc. increased its holdings in shares of Madison Square Garden Entertainment by 136,900.0% during the first quarter. NBC Securities Inc. now owns 1,370 shares of the company’s stock valued at $44,000 after acquiring an additional 1,369 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Madison Square Garden Entertainment Stock Performance

MSGE stock opened at $45.56 on Friday. The company has a debt-to-equity ratio of 60.61, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average price of $41.17 and a 200 day moving average price of $37.76. The company has a market capitalization of $2.16 billion, a P/E ratio of 59.94 and a beta of 0.49. Madison Square Garden Entertainment has a 1-year low of $28.29 and a 1-year high of $48.09.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Wednesday, August 13th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). The firm had revenue of $154.14 million during the quarter, compared to the consensus estimate of $151.17 million. Madison Square Garden Entertainment had a negative return on equity of 458.14% and a net margin of 3.97%.The business’s revenue for the quarter was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. As a group, equities research analysts forecast that Madison Square Garden Entertainment will post 1.04 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.